PlayStation gives Sony a big boost

Sony's PlayStation division has given the company a big boost.

The company has raised its earnings outlook from profits of $5.9 billion to $7.72 billion, and it's said the revised forecasts are down to the success of the video game console.

Record sales of 'Spider-Man' and other third party games have provided a big boost, and it Bloomberg reports that the PS4 is helping to stabilise the company while its smartphone business remains uncertain.

It's thought that sales of games like 'Call of Duty: Black Ops 4' and 'Red Dead Redemption' could also be a big help, while 'Fortnite' has had an impact too as its in-game earnings are split with Sony.

Macquarie Group analyst Damien Thong said: "[This will be] the best year for the PlayStation for first party games and overall profitability of the platform."

It's been noted that game and network service sales have increased by $1 billion, while the company has achieved a total of 34.3 million users on PlayStation Plus by the end of the quarter on September 30.

Meanwhile, operating profit for the PlayStation division alone has risen 65 per cent from a year ago, and sales for the quarter rose 27 per cent.